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New boss for $5 billion investment fund in Cairns

A BRISBANE senior investment executive has been appointed the new boss of the controversial Northern Australia Infrastructure Facility (NAIF).

Chris Wade, formerly Clean Energy Finance Corporation’s head of property, will start his new role in Cairns on January 20.

He replaces inaugural chief executive Laurie Walker.

NAIF chairman Professor Khory McCormick said Mr Wade had extensive experience in developing and maturing investment businesses across sectors including infrastructure, renewable energy and property.

“Chris has enjoyed an extensive career in infrastructure related roles and we believe he possesses the right competencies to take NAIF forward into our next exciting phase of developing and supporting key infrastructure investment across northern Australia,” he said. “With a number of important deals at advanced stages and NAIF moving to enhance the transformational and iconic project aspects of its operations, this is an exciting time for NAIF and for the north.

“We are delighted that Chris will lead the organisation’s highly committed and skilled team in this next period when NAIF’s delivery of ever increasing public benefit will be realised.”

Mr Wade is a board member of Infrastructure Association of Queensland.

The $5 billion investment body has been criticised for its slow approval rate with $1.4 billion of loans to 14 infrastructure projects approved but only $38.5 million actually spent.

 

Nick Dalton, The Cairns Post

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